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Bloomberg Just when Wall Street was starting to wonder whether President Donald Trump really would be good for business, the new administration is delivering on bankers’ wish lists and sending shares of the biggest US financial companies soaring. Trump signed two directives aimed at starting the process of rolling back restrictions put in place to prevent another financial crisis. Among ...
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February, 2017
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5 February
US stocks climb on payrolls surge as Trump targets Dodd-Frank
Bloomberg US stocks rose the most in a week after Labor Department data showed US employers in January hired the most workers in four months. Financial shares rallied on the prospect of looser financial regulations. Banks posted the best day since mod-November as President Trump prepares to sign executive orders on deregulation and an examination of the Dodd-Frank act. ...
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5 February
Mashreq Bank enhances ‘Card Control’ with new safety features
Dubai / Emirates Business Mashreq, the market leader in innovation, recently added two new advanced safety features to its Card Control service, integrated to its award-winning mobile banking app – Mashreq Snapp. Both the features are launched for the first time in the UAE. The two new features ‘Block by Country’ and ‘Block by Merchant Category’ are aimed at ...
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5 February
Deutsche Bank says ‘sorry’ for misconduct, loss
AP Deutsche Bank, Germany’s largest lender, has apologized in full-page German newspaper ads for misconduct that has cost the company billions. The ad, signed by CEO John Cryan on behalf of the bank’s top management, ran in the Frankfurter Allgemeine Zeitung and the Munich-based Sueddeutsche Zeitung. The bank said its past conduct “not only cost us money, but also ...
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5 February
Policy tightening not imminent, says BoE
Bloomberg The pound snapped a two-day rally and gilts rose after the Bank of England (BoE) signaled that a policy tightening wasn’t imminent. Sterling rose initially after the central bank said that some within its committee had become more concerned about accelerating inflation and that they were “closer to those limits†of tolerance. It reversed gains after a fuller ...
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5 February
In JPMorgan’s ‘War Room,’ pvt banking meets cross-selling
Bloomberg Salespeople of all stripes know the drill. Go to the morning pump-up sessions. Hit the revenue targets. Move product or move along. The playbook for selling everything from phones to time shares also crops up in a rarefied environment — the Manhattan offices of JPMorgan Chase & Co.’s elite wealth-management unit. There, private bankers working with JPMorgan’s richest ...
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5 February
Lockheed wins $8.2bn F-35 contract after Trump intervenes
Bloomberg The White House announced a contract for 90 F-35 jets from Lockheed Martin Corp. valued at as much as $8.2 billion, boasting of savings after President Donald Trump chided that the Pentagon’s costliest program was “out of control.†Based on the per-plane cost, the savings will be $728 million compared with the previous contract, according to a Pentagon ...
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5 February
Qatar Airways launches world’s longest flight
DUBAI / Reuters Qatar Airways launched its first service to Auckland, New Zealand on Sunday with the return leg set to be the longest scheduled commercial flight by flying time, according to the airline’s website. Flight QR920 departed Doha’s Hamed International Airport, a spokeswoman confirmed, and was scheduled to arrive in Auckland on Monday at 0730 local time (1830 ...
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5 February
Breitling pilot to make master class debut at Abu Dhabi race
Abu Dhabi / Emirates Business Swiss luxury watchmaker and aviation chronograph specialist, Breitling announced that French pilot, Mika Brageot, will be making his Master Class debut in Abu Dhabi at the season opener of the 2017 Red Bull Air Race World Championship from February 10-11. The Abu Dhabi race, which is celebrating its 10th anniversary, will see Brageot and ...
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5 February
Dubai agrees $3bn loan to fund airport expansion
Bloomberg Dubai agreed a $3 billion loan with banks to fund the expansion of Dubai World Central airport and logistics hub as it prepares to host the World Expo in 2020, reports said. The emirate will pay interest of 200 basis points, or 2 percentage points, above the London Interbank Offered Rate on the seven-year facility, said the people, ...
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